Ausbil Investment Management Ltd Raises Stock Holdings in Knife River Co. (NYSE:KNF)

Ausbil Investment Management Ltd increased its stake in shares of Knife River Co. (NYSE:KNF) by 599.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 19,579 shares of the company’s stock after purchasing an additional 16,780 shares during the quarter. Ausbil Investment Management Ltd’s holdings in Knife River were worth $1,750,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of KNF. Vanguard Group Inc. boosted its position in Knife River by 9.1% in the 4th quarter. Vanguard Group Inc. now owns 6,044,184 shares of the company’s stock worth $400,004,000 after purchasing an additional 503,892 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its position in Knife River by 12.2% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,064,224 shares of the company’s stock worth $144,785,000 after acquiring an additional 224,373 shares during the period. Hood River Capital Management LLC raised its position in Knife River by 5.3% during the second quarter. Hood River Capital Management LLC now owns 761,001 shares of the company’s stock worth $53,377,000 after acquiring an additional 38,152 shares during the period. Federated Hermes Inc. lifted its holdings in Knife River by 37.5% during the second quarter. Federated Hermes Inc. now owns 384,215 shares of the company’s stock valued at $26,949,000 after purchasing an additional 104,720 shares in the last quarter. Finally, Shellback Capital LP grew its position in shares of Knife River by 28.3% in the second quarter. Shellback Capital LP now owns 321,323 shares of the company’s stock valued at $22,538,000 after purchasing an additional 70,801 shares during the period. Hedge funds and other institutional investors own 80.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer boosted their target price on Knife River from $85.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Knife River presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.60.

Knife River Trading Down 0.6 %

Shares of KNF traded down $0.53 during midday trading on Thursday, hitting $90.97. 33,513 shares of the stock were exchanged, compared to its average volume of 378,201. The firm has a market cap of $5.15 billion, a P/E ratio of 29.70, a P/E/G ratio of 2.17 and a beta of 0.82. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.49 and a current ratio of 2.51. The stock has a fifty day simple moving average of $84.36 and a 200 day simple moving average of $77.90. Knife River Co. has a 52-week low of $46.51 and a 52-week high of $95.85.

Knife River (NYSE:KNF) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.13. Knife River had a return on equity of 15.73% and a net margin of 6.88%. The business had revenue of $806.90 million for the quarter, compared to analysts’ expectations of $803.81 million. During the same period last year, the firm earned $1.00 earnings per share. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, research analysts anticipate that Knife River Co. will post 3.72 EPS for the current fiscal year.

About Knife River

Knife River Corporation, together with its subsidiaries, provides aggregates- led construction materials and contracting services in the United States. It operates through Pacific, Northwest, Mountain, Central, and Energy Services segments. The company mines, processes, and sells construction aggregates, including crushed stone and sand, and gravel; and produces and sells asphalt and ready-mix concrete.